Ann: Annual Report to shareholders, page-6

Boom boom boom!

Had some time to have a better look through.

My highlights

• More geologists
• Second drill rig soon and potentially third drill rig later
• Metallurgical test work in progress with world experts
• Scoping study and pre-feasibility are progressing well
• New licence applications being negotiated in Thailand
• Several other expansion targets in the South East Asia region to be brought into PAM's portfolio in 2022
• Near term approval of Reung Kiet expansion and later on Kata Thong
• 10,000tpa lithium chemical for 10 years is just the start and likely much higher
• Lepidolite with the highest purity and lowest cost lithium carbonate/hydroxide
• World class team assembled for feasibility and metallurgical work

• Highly supportive Thailand EV manufacturing hub strategy to be the largest manufacturer in the region

• Focusing only on down stream high profit/value add products
• Tightly held by smart money with no hype/fluff
• Near zero to zero carbon footprint with added premium on final products
• Very low cost environment
• Good infrastructure with hydro power for clean energy, 30 minutes from Phuket, power lines running next to project, train lines to Malaysia, Thailand and extends up to China
• Potential monopoly in South East Asia

Patience required